U.S. Inflation Still Resilient. NFP Report Ahead. The greenback is on the offensive, fuelled by growing optimism about the U.S. Federal Reserve implementing further rate hikes. It seems that a deal regarding the debt ceiling has been reached between U.S. President Joe Biden and House Speaker Kevin. The $31.4 trillion debt ceiling will be suspended […]
Weekly Crypto Roundup: ETH, XRP, BNB Price Updates. Bitcoin has managed to remain fairly stable amidst various financial ups and downs such as the debt ceiling crisis, the banking crisis, and sky-high inflation. However, according to Glassnode, a reliable on-chain analytics firm, this period of stability may not last long, and we can expect a […]
EUR/USD at Support. Will the Bulls Step In? The dollar started to slide against the yen and euro on Friday and the weakness continued Monday. The decline was triggered by unexpected complications in the U.S. debt ceiling negotiations and by comments made by Fed Chair Jerome Powell, who suggested a slower pace of interest rate […]
Weekly Crypto Roundup. BTC, ETH, XRP, LTC Price Updates As of this month, the number of Bitcoin addresses that hold at least 1 BTC has surpassed 1 million. This milestone which garnered a lot of interest on social media was reached on May 18, according to crypto analytics firm Glassnode. The “wholecoiners” have been on […]
EUR/USD Headed for Support After Failed Breakout The US Dollar Index (DXY) broke a 5-week high on Monday, boosted by renewed inflation worries following last week’s CPI release which showed that inflation is toning down. The University of Michigan Consumer Sentiment survey released Friday revealed that consumers’ long-term inflation projections accelerated to a 12-year high. […]
Bears Break April’s Low. Where to Next? The latest U.S. inflation data released Wednesday provided further evidence that the Fed might not continue hiking interest rates to curb inflation. The Core CPI (year over year) came in at 5.5%, lower than the previous 5.6%, while the headline CPI (year over year) was 4.9%. Both the […]
CPI Release Expected to Impact Currency Markets. The US Dollar is threading water and showing signs of weakness despite better-than-anticipated numbers for the Non-Farm Payrolls report. Last Friday, data showed that 253K new jobs were created, surpassing the forecast of 181K and the previous 165K. The Unemployment Rate dropped to 3.4% from the previous 3.5% […]
$30,000 Is Still the Talk of the Town. Break Out or Break Down? The Federal Reserve and the European Central Bank both did what the markets widely expected: to raise their respective interest rates by 0.25 bps. However, going forward there seems to be a growing divergence between the monetary policies of the two central […]
EUR/USD in Limbo as Traders Await Key Data We are headed towards what could be the Fed’s last rate hike of the year but if that isn’t enough, the Non-Farm Payrolls report will spice things up even more. And it doesn’t stop here: the European Central Bank will announce the main refinancing rate and the […]
A Fresh Assault On $30K. Can the Bulls Break it This Time? The Bitcoin rollercoaster was firing on all cylinders this week, peaking at $30,000 on Wednesday before losing almost $3,000 in a matter of hours. As of this writing, BTC/USD is trading at 29,500, and it looks like the bulls are ready to make […]